Larimar Therapeutics, Inc. (NASDAQ:LRMR) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Larimar Therapeutics, Inc. (NASDAQ:LRMR) has received an average rating of "Moderate Buy" from ten research firms, with one analyst recommending a sell and nine recommending a buy.
• Insider activity shows Director James E. Flynn bought approximately 9.375 million shares at an average price of $3.20 each, significantly increasing his stake in the company.
• Institutional investors own about 91.92% of Larimar’s stock, with notable investment increases from firms like Cubist Systematic Strategies and Alyeska Investment Group.

Larimar Therapeutics, Inc. (NASDAQ:LRMR - Get Free Report) has received an average rating of "Moderate Buy" from the ten research firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.7143.

LRMR has been the subject of several analyst reports. Citigroup reissued a "buy" rating on shares of Larimar Therapeutics in a report on Tuesday, June 24th. Wedbush reduced their target price on shares of Larimar Therapeutics from $15.00 to $11.00 and set an "outperform" rating for the company in a report on Tuesday, September 30th. Weiss Ratings reissued a "sell (d-)" rating on shares of Larimar Therapeutics in a report on Wednesday. Oppenheimer reduced their target price on shares of Larimar Therapeutics from $26.00 to $21.00 and set an "outperform" rating for the company in a report on Thursday, October 2nd. Finally, Guggenheim reiterated a "buy" rating and set a $26.00 target price on shares of Larimar Therapeutics in a research report on Tuesday, June 24th.

Insider Activity

In other Larimar Therapeutics news, Director James E. Flynn bought 9,375,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $3.20 per share, for a total transaction of $30,000,000.00. Following the completion of the transaction, the director owned 9,538,945 shares of the company's stock, valued at $30,524,624. This trade represents a 5,718.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC grew its position in shares of Larimar Therapeutics by 51.5% during the first quarter. Cubist Systematic Strategies LLC now owns 354,232 shares of the company's stock valued at $762,000 after purchasing an additional 120,359 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Larimar Therapeutics by 46.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,442,473 shares of the company's stock worth $3,101,000 after buying an additional 458,396 shares in the last quarter. Nuveen LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth $376,000. Walleye Capital LLC purchased a new position in shares of Larimar Therapeutics in the 1st quarter worth $37,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Larimar Therapeutics by 17.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 256,861 shares of the company's stock worth $742,000 after buying an additional 38,427 shares in the last quarter. Hedge funds and other institutional investors own 91.92% of the company's stock.

Larimar Therapeutics Stock Performance

NASDAQ:LRMR opened at $4.82 on Thursday. The stock has a 50-day simple moving average of $4.00 and a two-hundred day simple moving average of $3.05. The firm has a market capitalization of $399.00 million, a PE ratio of -3.09 and a beta of 1.00. Larimar Therapeutics has a 52-week low of $1.61 and a 52-week high of $9.50.

Larimar Therapeutics (NASDAQ:LRMR - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.06. Equities analysts forecast that Larimar Therapeutics will post -1.15 earnings per share for the current fiscal year.

About Larimar Therapeutics

Larimar Therapeutics, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare diseases using its novel cell penetrating peptide technology platform. Its lead product candidate is CTI-1601, which is in Phase 2 OLE clinical trial for the treatment of Friedreich's ataxia, a rare, progressive and fatal genetic disease.

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